The difference between the simple and compound interest on a certain sum of money at 5% rate of interest per annum for 2 years is 15. Then the sum is :
Options:
A . 7,000
B . 6,500
C . 6,000
D . 5,500
Answer: Option C Answer: (c)Let the sum Rs.x. Then,C.I. = $x(1 + 5/100)^2 - x$= ${441x}/400 - x = {441x - 400x}/400$= $41/400$xNow, S.I. = ${x × 5 × 2}/100 = x/10$(C.I.) - (S.I.)= ${41x}/400 - x/10$= ${41x - 40x}/400 = x/400$$x/400 = 15$x = 15 × 400 = 6000Hence, the sum is Rs.6000Using Rule 6,The difference between C.I. and S.I. on a sum 'P' in 2 years at the rate of R% rate of compound interest will beC.I - S.I. = P$(R/100)^2 = {S.I. × R}/200$ For 3 years, C.I. - S.I. = P$(R/100)^2 × (3 + R/100)$
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